1993 SNA Update Information - Outlay

Clarification description

In relation to SNA glossary, there is a confusion on the definition of a term, "outlay". This term is shown in 1968 SNA as "income and outlay a/c", and also is used in 93 SNA. It might be used for the opposite concept of income. That is, outflow of income. That term confuses with expenditure, at first time, which means outflow of money in exchange for goods and service. In SNA 93(4.104 b), there appears the explanation of "final outlay". It includes 1) expenditures on collective services, and 2) expenditure on individual services, and 3) transfers to other units. It does exclude capital expenditure, however, include transfers. It seems to be really a new term from these explanation. It may be explained in a more detail in SNA to avoid the confusion with "expenditure". This term is, also, not enlisted on the "93 SNA Glossary" published at OECD.

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